BOZEMAN — Bozeman’s Darlinton Manor has been purchased by HRDC.
The 100-unit apartment development is located at 606 North 5th Avenue, on the corner of Peach St.
According to HRDC, Darlinton Manor contributes to the Bozeman area’s minimal supply of subsidized housing.
In a press release, HRDC states: “Subsidized properties are in short supply, and funding of new subsidized housing is not available. Many communities have lost these properties due to resale, and once subsidies are lost, they are not replaceable. These resales often result in the displacement of long-term residents who may slip into a housing crisis. Preserving these properties is one of the most effective ways a community can promote housing affordability.”
The Project-Based Section 8 contract with HUD ensures that 85 of the 100 units within the development have rents based on tenant incomes, with tenants paying rent equal to 30% of their income. The reduced rent payments allow seniors and community members with disabilities on low and fixed incomes to remain in the community they call home.
“At a time when Bozeman is projecting a need of over 6,000 new units to improve housing affordability, the loss of 141 subsidized units would be nearly impossible to address. Preservation of subsidized housing should be a primary objective of our housing affordability strategies,” says HRDC CEO and President, Heather Grenier.
The purchase of Darlinton Manor follows HRDC’s August 2019 purchase of the Boulevard Apartments, a 41-unit subsidized development in downtown Bozeman.
HRDC is currently preparing an application to the Montana Board of Housing for Low Income Housing Tax Credits for renovations needed at both properties, planned for 2021.
For more information about HRDC, visit thehrdc.org.
